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The CitiBusiness® Card was last reviewed on 6thth February 2008
Summary - The CitiBusiness® Card is a basic business credit card that will appeal to the small business owner who is looking for a credit card with a good 0% APR balance transfer offer and/or one that has a low APR. Find out more about this card.
Annual Fee and APR - The CitiBusiness® Card has no annual fee. You get a 0% APR introductory offer for both purchases and balance transfers for 12 months. For the balance transfer offer, you are allowed 12 months to make your first balance transfer and the balance transfer period starts from the date of the transfer and not account opening date (a
balance transfer fee applies with this introductory offer). The APR is very low at prime rate plus 2.99%. The average daily balance method (including new purchases) is used to calculate monthly balances.
Account Management and Credit Lines - Cardholders will get access to business credit lines (which will depend on your business and credit history). Like other Citicards, you can manage your account online by Managing payments, viewing statements, tracking activity, requesting a credit line increase and adding employees.
Deals and Discounts - You will also get periodic deals and discounts from various merchants like AETNA, Avis, Cingular Wireless and DHL.
Personal Business Assistant - Cardholders will be given a toll-free number access to a personal business assistant who can answer requests 24/7 online or by phone for business information, travel reservations, as well as referrals for marketing and administrative needs.
Reports to Credit Bureaus - Unlike many small business credit cards, Citibank reports your credit card activities to business credit bureaus like D&B. This will help you build a business credit history, which may enable you to get business financing in the future without using any personal guarantees.
Verdict - We recommend the CitiBusiness® Card to the small business owner who is looking for a basic business credit card. You get a very good introductory 0% APR deal, a reasonably low interest rate and great account management tools that you would expect from a major credit card issuer like Citibank.
Positives
0% apr offer for 12 months for both purchases and balance transferNo annual feeUnlimited employee cards at no cost
| Free MasterCard Business Savings allows cardholders to get discounts from partner merchants |
Quarterly and annual report on card activity
Zero liability on unauthorized purchases
Automatic Bill Payment
Download transactions with Quicken, Quickbooks and Money |
| Introductory rate |
0% introductory APR on balance transfers for 12 months from date of balance transfer. You can transfer within 12 months. |
| Annual Fees |
No annual fee |
| Additional Card Fee |
No additional card fee |
| Purchase APR |
Prime Rate plus 2.99% |
| Balance Transfer APR |
Prime Rate plus 2.99% |
| Cash Advance APR |
Prime Rate plus 14.99%, min of 19.99% |
| Penalty/Default Rate APR |
Prime Rate plus 23.99%, min 28.99% |
| Min Finance Charge |
$0.50 |
| Grace Period |
20 days |
| Balance Calculation Method |
Average Daily Balance (including new purchases) |
| Balance Transfer Fee |
3%, min $5.00, max $50.00 |
| Cash Advance fee |
3% min $5.00 |
| Over-the-credit-limit fee |
$35.00 |
| Late Payment fee |
$15.00 - up to $100
$29.00 - $100 up to $250
$39.00 - $250 and greater |
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